ASSET-H&C is currently working with one partner in the Philippines.

After the pandemic, the tourism industry played a major role regarding the economic recovery, recording 6.21 million tourism-related jobs in 2023. The industry contributed 8.6% to the GDP, with a Tourism Direct Gross Value Added (TDGVA) of P2.09 trillion, the highest since 2000.

The poverty rate declined from 23.3 percent in 2015 to 18.1 percent in 2021, showing resilience despite the impact of COVID-19. The economy continued its strong performance with a 5.6 percent growth rate in 2023, positioning the Philippines as one of the top performers in the region. This positive momentum presents a significant opportunity for ASSET-H&C to expand its network and support the country’s growth through targeted training and employment initiatives.

1 DEPARTMENT OF TOURISM PHILLIPINES, TOURISM EMPLOYED 6.21 MILLION FILIPINOS IN 2023; GROWTH OF TOURISM INDUSTRY SHARE TO GDP HIGHEST IN 24 YEARS

2 WORLD BANK GROUP, PHILLIPINES, OVERVIEW